#521

The Petroleum Development Levy (PDL) target for FY 2024-25 was set at:

(a) Rs 800 Billion

(b) Rs 1.0 Trillion

(c) Rs 1.3 Trillion

(d) Rs 2.0 Trillion

Explanation: The government targeted Rs 1.3 trillion in collection from the Petroleum Development Levy (PDL), utilizing the increased levy rates on petrol and diesel.

#522

The 'Sovereign Wealth Fund' Act was amended in 2024 to primarily:

(a) Allow investment in cryptocurrency

(b) Remove tax exemptions and special privileges

(c) Privatize all state assets

(d) Block foreign investment

Explanation: To meet IMF governance conditions, the Sovereign Wealth Fund Act was amended to remove tax exemptions and privileges, ensuring state-owned enterprises in the fund compete on a level playing field.

#523

In the 2024-25 Budget, the Capital Gains Tax (CGT) on real estate for filers is set at:

(a) 5%

(b) 10%

(c) 15%

(d) 25%

Explanation: For properties acquired on or after July 1, 2024, a flat Capital Gains Tax rate of 15% applies to filers, regardless of the holding period.

#524

To curb 'flying invoices', the 2024-25 Budget removed sales tax on which item?

(a) Iron and Steel Scrap

(b) Cotton Yarn

(c) Plastic Granules

(d) Sugar

Explanation: Sales tax on iron and steel scrap was removed to eliminate the rampant issue of fake or 'flying' invoices that were being used to claim fraudulent input tax adjustments.

#525

What is the new tax rate on 'Non-Salaried' individuals for the highest income slab in the 2024-25 Budget?

(a) 35%

(b) 40%

(c) 45%

(d) 50%

Explanation: The top marginal tax rate for non-salaried individuals and Associations of Persons (AOPs) was raised to 45% in the 2024-25 budget.

#526

Which province launched the 'Kisan Card' scheme in 2024 to provide direct subsidies to farmers?

(a) Sindh

(b) Punjab

(c) Balochistan

(d) Khyber Pakhtunkhwa

Explanation: The Punjab government launched the Kisan Card to facilitate farmers with direct subsidies on inputs like fertilizer and seeds, and access to low-interest loans.

#527

In 2024, Pakistan finalized a preferential trade agreement (PTA) protocol with which Central Asian nation?

(a) Kazakhstan

(b) Turkmenistan

(c) Uzbekistan

(d) Kyrgyzstan

Explanation: Pakistan and Uzbekistan have been actively implementing and refining their Preferential Trade Agreement (PTA) and Transit Trade Agreement to boost regional commerce.

#528

The tax-to-GDP ratio of Pakistan reached what level in FY 2024-25 for the first time in a decade?

(a) 8.5%

(b) 9.2%

(c) 10.3%

(d) 12.5%

Explanation: Driven by aggressive taxation measures, the FBR's tax-to-GDP ratio crossed into double digits, reaching approximately 10.3% in FY 2024-25.

#529

Which export sector faced the removal of the fixed 1% final tax regime in the 2024-25 Budget?

(a) Exporters (General)

(b) IT Freelancers only

(c) Surgical Instruments only

(d) Sports Goods only

Explanation: The 2024-25 budget shifted exporters from a fixed 1% final tax regime to the normal tax regime (29% corporate tax + super tax), treating the 1% payment only as a minimum tax.

#530

What is the new Advance Withholding Tax rate for non-filer retailers and wholesalers in the 2024-25 Budget?

(a) 1%

(b) 2.25%

(c) 5%

(d) 10%

Explanation: To penalize non-compliance, the Advance Withholding Tax for non-filer distributors, wholesalers, and retailers was increased from 1% to 2.25%.

#531

The 'Winter Package 2024' offered relief on which utility to encourage consumption?

(a) Natural Gas

(b) Electricity (Incremental usage)

(c) Water

(d) Internet

Explanation: The government offered a reduced tariff on incremental electricity consumption during winter months to encourage the use of surplus power capacity and reduce reliance on gas heating.

#532

The 'National Firewall' implemented in 2024 serves what primary purpose?

(a) Physical border security

(b) Internet traffic monitoring and content filtering

(c) Financial transaction processing

(d) Weather forecasting

Explanation: The National Firewall was installed to monitor internet traffic, filter content considered 'propaganda' or fake news, and manage cybersecurity threats.

#533

Which item saw its Advance Tax increased for vehicle registration based on engine capacity in the 2024-25 Budget?

(a) Electric Vehicles

(b) Motorcycles

(c) Luxury Cars (2000cc and above)

(d) Bicycles

Explanation: The budget significantly increased the Advance Tax on the registration of vehicles with engine capacities of 2000cc and above to tax luxury consumption.

#534

Which province passed the controversial 'Defamation Act 2024'?

(a) Sindh

(b) Punjab

(c) Khyber Pakhtunkhwa

(d) Balochistan

Explanation: The Punjab Assembly passed the Defamation Act 2024, aiming to curb disinformation on social media, though it faced criticism from journalists and civil society.

#535

Pakistan's ranking in the 'Global Gender Gap Index 2024' was:

(a) Top 10

(b) Middle 50

(c) 145th (Second lowest)

(d) Top 100

Explanation: Pakistan ranked 145th out of 146 countries in the Global Gender Gap Index 2024, indicating significant disparity.

#536

Under the new 'Visa Policy 2024', Pakistan abolished visa fees for citizens of how many countries?

(a) 50

(b) 90

(c) 126

(d) 10

Explanation: To boost tourism and business, Pakistan abolished visa fees for citizens of 126 countries and simplified the electronic visa application process.

#537

In November 2025, the FDA approved which drug for the treatment of locally advanced or metastatic non-squamous non-small cell lung cancer with specific HER2 mutations?

(a) Hyrnuo (sevabertinib)

(b) Redemplo (plozasiran)

(c) Komzifti (ziftomenib)

(d) Lynkuet (elinzanetant)

Explanation: On November 19, 2025, the FDA approved Hyrnuo (sevabertinib) for treating adults with locally advanced or metastatic non-squamous non-small cell lung cancer (NSCLC) harboring activating HER2 tyrosine kinase domain mutations.

#538

Researchers from UC Davis engineered which crop in November 2025 to encourage soil bacteria to convert atmospheric nitrogen into fertilizer, potentially reducing the need for synthetic fertilizers?

(a) Rice

(b) Corn

(c) Wheat

(d) Soybean

Explanation: In November 2025, UC Davis researchers announced they had engineered wheat to secrete compounds that trigger soil bacteria to fix atmospheric nitrogen, creating a natural fertilizer system that could lower agricultural emissions.

#539

What specifically does the drug 'Redemplo' (plozasiran), approved by the FDA in November 2025, target in adults?

(a) High cholesterol

(b) High triglycerides

(c) Hypertension

(d) High blood sugar

Explanation: Redemplo (plozasiran) was approved by the FDA in November 2025 specifically to reduce triglycerides in adults with familial chylomicronemia syndrome (FCS), a rare genetic disorder.

#540

In late 2024, Google released which experimental AI model series designed specifically for the 'agentic era'?

(a) Gemini 1.5 Pro

(b) Gemini 2.0

(c) PaLM 3

(d) Gemma Ultra

Explanation: Google released the first models in its Gemini 2.0 experimental series in December 2024, positioning them as models designed for the 'agentic era' with enhanced capabilities for taking actions and executing multi-step plans.

November 2024 Current Affairs MCQs & Solutions